Eugene, Ore.-based Organically Grown Co. is changing its ownership structure to keep the focus on its values.
The company, which has been employee- and grower-owned, is buying back all of its shares. The shares will be held in the Sustainable Food and Agriculture Perpetual Purpose Trust, which will own 100% of the company, according to a news release.
The ownership structure is designed to keep the company’s purpose at the center of its business. It will ensure that the company delivers positive economic, social and environmental impact and maintains its independence into perpetuity, never to be sold.
The trust is overseen by organic industry veterans, including former Whole Foods president Joe Rogoff and Organic Valley chief executive officer George Siemon.
“This groundbreaking ownership model embeds OGC’s commitment to organic and sustainable agriculture, and corporate, social and environmental stewardship into our governance and financing structure. Placing the company into a Purpose Trust ensures that we stay focused on our mission as North Star, share real-time rewards with our stakeholders and have aligned financing to increase our impact,” Elizabeth Nardi, CEO of Organically Grown, said in the release.
Organically Grown Co. is an independent organic produce distributor. The company moved more than 100 million pounds of fresh fruit and vegetables across the Pacific Northwest region last year.
